Bill  Keay

Bill Keay

Sales Representative, B.Comm, SRES, CNE, ABR®

RE/MAX Aboutowne Realty Corp. , Brokerage *

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Low Interest Rates and Pent-Up Demand drive the GTA Housing Market

Toronto Regional Real Estate Board President Lisa Patel announced that sales reported through TRREB’s MLS® System by Greater Toronto Area REALTORS® amounted to 11,083 – a new record for the month of September.  This was an increase of 42.3% compared to the 7,791 sales in September 2019. 

Sales through the first nine months of 2020 were up approximately 1% compared to the same period last year.  

The Average Selling Price for all types of homes was $960,772 and that was up 14% from $842,421 in September 2019.

The Total New Listings in September 2020 was 20,420 and that was up 30.8% from 15,616 over the same month in 2019.  

The Average Listing Days on Market was 16 days in September 2020 compared to 23 days back in September 2019. 

“Improving economic conditions and extremely low borrowing costs sustained record-level sales in September, as we continued to account for the substantial amount of pent-up demand that resulted from the spring downturn", said Ms. Patel.

For more information about your real estate market please contact me at 647-984-2455.   

Posted by Bill Keay, B.Comm

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